Palos Verdes and Harbor Cities Market Intelligence Report Vol. 4 | March 2018 Designed to give you the facts & trends overview of the most relevant market activities as they unfold in the South Bay real estate community This Sales Monthly Report monitors Palos Verdes Estates
Rolling Hills Estates
Palos Verdes Peninsula
San Pedro
Rancho Palos Verdes
Harbor City
Rolling Hills
RE/MAX Estate Properties 700+ Local Agents • 17 Offices • Luxury Residential Commercial Investment Division • International
Alison Clay-Duboff
President Salty Water Properties, Inc. REALTOR® Lic# 01786922
Cell 310-200-3037 eFax 310-265-6050
alison@alisonisrealestate.com www.saltywaterproperties.com
®
Market Intelligence Glossary Median Price:
Median Price is the price of the property that falls in the middle of the total number of properties Sold in any given month.
Average Price Per Square Foot:
Found by taking the price of each property and dividing that by its square footage, then finding the average for all properties Sold.
Properties for Sale: The number of properties that are for sale on the market.
Properties Under Contract:
The number of properties with an accepted offer however they have not closed.
Properties Sold: The number of properties that SOLD and transfered ownership.
DAYS On Market (Closed Sales):
The average number of days that properties were on ACTIVE on the market.
Months Supply Of Inventory:
This is calculated by dividing the total number of homes for sale in a particular month by the number of homes that sold in that month.
Properties Pending sale:
The number of properties placed in escrow during any given month.
Absorption rate (closed sales):
This is the rate at which properties sell. It is the number of properties sold divided by the total number of properties for sale.
Report Notes:
Reports published in March 2018 are based on data available at the end of February 2018. All reports presented are based on data supplied by the CRMLS or TheMLS and Trendgraphix. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Information deemed reliable but not guaranteed
Palos Verdes and Harbor Cities Market Intelligence RE/MAX Estate Properties tracks key data points in significant cities and areas throughout the Palos Verdes and Harbor Cities Palos Verdes Estates........................................................4 Rancho Palos Verdes........................................................5 Rolling Hills.......................................................................6 Rolling Hills Estates .........................................................7 San Pedro.........................................................................8 Wilmington.......................................................................9 Harbor City .....................................................................10
Palos Verdes Estates February Stats Key Facts:
$1,575,000
Median Sold Price
$2,040,000
Average Sold Price
44
Feb. Feb. % 2017 2018 Change
Median Price
$1,720
$1,575
-8%
Average Price Per Sq. Foot
$707
$704
0%
Properties for Sale
51
44 -14%
Properties Pending Sales
25
18 -28%
Properties Sold
15
10 -33%
Days on Market (Sold Homes)
67
58 -13%
Monthly Supply of Inventory
3.4
4.4 29%
Absorption Rate (closed sales) 29.4
22.7 -23%
Listings for Sale
18
Listings Pending
Average & Median Price $3,000
$3,500 $2,500
$3,000
10
$2,040
$2,593 $2,500 $2,000
Listings Sold
$1,575
$2,000 $1,500
58
Days On Market
$1,655
$1,500 $1,000
$1,000 $500 $500
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Rancho Palos Verdes February Stats Key Facts:
$1,288,000 Median Sold Price
$1,505,000
Average Sold Price
78
Feb. Feb. 2017 2018
Median Price
$966
$1,288
33%
Average Price Per Sq. Foot
$540
$614
14%
Properties for Sale
89
78 -12%
Properties Pending Sales
37
43 16%
Properties Sold
24
30 25%
Days on Market (Sold Homes) 56
42 -25%
Monthly Supply of Inventory
3.7
2.6 -30%
Absorption Rate (closed sales) 27
38.5 43%
Listings for Sale
43
Listings Pending
Average & Median Price $3,500
$1,505
$1,600
$3,000 $1,400
30
Listings Sold
% Change
$1,288
$2,593
$1,200 $2,500 $1,000
$2,000
$1,655 $800
42
Days On Market
$1,500
$600
$1,000 $400
$500 $200
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Rolling Hills February Stats Key Facts:
$1,650,000
Median Sold Price
$1,650,000
Average Sold Price
23
Feb. Feb. % 2017 2018 Change
Median Price
$3,541
$1,650
-53%
Average Price Per Sq. Foot
$838
$574
-32%
Properties for Sale
19
23 21%
Properties Pending Sales
1
2 100%
Properties Sold
2
1 -50%
Days on Market (Sold Homes)
82
164 100%
Monthly Supply of Inventory
9.5
23 142%
Absorption Rate (closed sales) 10.5
4.3 -59%
Listings for Sale
2
Listings Pending
Average & Median Price $3,500
$4,500
$4,000 $3,000
1
Listings Sold
$2,593
$3,500
$2,500
$3,000
$2,000 $2,500
164
Days On Market
$1,655 $1,650
$1,500 $2,000
$1,650 $1,500
$1,000
$1,000
$500 $500
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Rolling Hills Estates February Stats Key Facts:
$1,500,000 Median Sold Price
$1,531,000
Average Sold Price
19
Feb. Feb. 2017 2018
Median Price
$1,210
$1,500
24%
Average Price Per Sq. Foot
$560
$625
12%
Properties for Sale
29
19 -34%
Properties Pending Sales
11
12 9%
Properties Sold
7
7 0%
Days on Market (Sold Homes) 48
92 92%
Monthly Supply of Inventory
4.1
2.7 -34%
Absorption Rate (closed sales) 24.1
36.8 53%
Listings for Sale
12
Listings Pending
Average & Median Price $1,800
$3,500
$1,600
$1,531
$3,000 $1,400
7
Listings Sold
% Change
$1,500
$2,593
$2,500
$1,200
$2,000 $1,000 $1,655
92
Days On Market
$800 $1,500 $600
$1,000
$400
$500 $200
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
San Pedro February Stats Key Facts:
$560,000
Median Sold Price
$603,000
Average Sold Price
60
Feb. Feb. % 2017 2018 Change
Median Price
$540
$560
4%
Average Price Per Sq. Foot
$364
$393
8%
Properties for Sale
79
60 -24%
Properties Pending Sales
48
47 -2%
Properties Sold
51
37 -27%
Days on Market (Sold Homes)
46
38 -17%
Monthly Supply of Inventory
1.5
1.6 7%
Absorption Rate (closed sales) 64.6 61.7 -4%
Listings for Sale
47
Listings Pending
Average & Median Price $3,500 $700
$3,000
37
Listings Sold
$603
$2,593
$600
$560
$2,500 $500
$2,000 $1,655
$400
38
Days On Market
$1,500 $300
$1,000 $200
$500 $100
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Wilmington February Stats Key Facts:
$454,000 Median Sold Price
$440,000
Average Sold Price
15
Listings Pending
$415
$454
9%
Average Price Per Sq. Foot
$312
$368
18%
Properties for Sale
18
15 -17%
Properties Pending Sales
11
16 45%
Properties Sold
12
7 -42%
Days on Market (Sold Homes) 24
21 -13%
Monthly Supply of Inventory
1.5
2.1 40%
Absorption Rate (closed sales) 66.7
46.7 -30%
Average & Median Price $3,500
$500 $440
$450 $3,000
7
Listings Sold
% Change
Median Price
Listings for Sale
16
Feb. Feb. 2017 2018
$454
$2,593
$400
$2,500 $350
$2,000 $300 $1,655 $250
21
Days On Market
$1,500
$200
$1,000 $150 $100
$500
$50
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
Harbor City February Stats Key Facts:
$535,000
Median Sold Price
$524,000
Average Sold Price
18
Feb. Feb. % 2017 2018 Change
Median Price
$570
$535
-6%
Average Price Per Sq. Foot
$299
$354
18%
Properties for Sale
29
18 -38%
Properties Pending Sales
7
17 143%
Properties Sold
13
11 -15%
Days on Market (Sold Homes)
55
35 -36%
Monthly Supply of Inventory
2.2
1.6 -27%
Absorption Rate (closed sales) 44.8 61.1 36%
Listings for Sale
17
Listings Pending
Average & Median Price $524
$600
$3,500
$535
$500
$3,000
11
$2,593 $2,500 $400
Listings Sold $2,000 $300
35
Days On Market
$1,655
$1,500 $200
$1,000 $100 $500
$-
$Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Jan. Feb. 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2017 2018 2018
Median
Average
RE/MAX Estate Properties • 700+ Local Agents • 17 Offices • Luxury Residential International • Commercial Division BEVERLY HILLS 9454 Wilshire Blvd. Suite 600 Beverly Hills, CA 90212
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Alison Clay-Duboff
President Salty Water Properties, Inc. REALTOR® Lic# 01786922
Cell 310-200-3037 eFax 310-265-6050
alison@alisonisrealestate.com www.saltywaterproperties.com
®